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As the Canadian economy navigates a cooling labor market and potential interest rate cuts, investors are closely watching how these factors might influence financial markets. Penny stocks, often representing smaller or newer companies, remain an intriguing option for those seeking growth opportunities at lower price points. Despite being considered a somewhat outdated term, penny stocks can still offer significant potential when backed by strong financials and solid fundamentals.
Top 10 Penny Stocks In Canada
Name | Share Price | Market Cap | Financial Health Rating |
Alvopetro Energy (TSXV:ALV) | CA$4.80 | CA$182.32M | ★★★★★★ |
PetroTal (TSX:TAL) | CA$0.67 | CA$593.32M | ★★★★★★ |
Amerigo Resources (TSX:ARG) | CA$1.81 | CA$290.15M | ★★★★★☆ |
Pulse Seismic (TSX:PSD) | CA$2.37 | CA$117.59M | ★★★★★★ |
Foraco International (TSX:FAR) | CA$2.33 | CA$222.65M | ★★★★★☆ |
Findev (TSXV:FDI) | CA$0.41 | CA$11.46M | ★★★★★☆ |
Winshear Gold (TSXV:WINS) | CA$0.16 | CA$5.66M | ★★★★★★ |
Mandalay Resources (TSX:MND) | CA$3.28 | CA$321.48M | ★★★★★★ |
Vox Royalty (TSX:VOXR) | CA$3.96 | CA$205.39M | ★★★★★★ |
Enterprise Group (TSX:E) | CA$2.09 | CA$132.27M | ★★★★☆☆ |
Click here to see the full list of 963 stocks from our TSX Penny Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Quarterhill
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Quarterhill Inc., along with its subsidiaries, operates in the intelligent transportation system sector both in Canada and internationally, with a market cap of CA$186.27 million.
Operations: The company generates revenue of $151.42 million from its intelligent transportation systems segment.
Market Cap: CA$186.27M
Quarterhill Inc. shows potential in the penny stock arena with a focus on intelligent transportation systems, generating CA$151.42 million in revenue. Despite being unprofitable and not expected to turn profitable soon, its short-term assets cover both short- and long-term liabilities, indicating financial stability. Recent contracts valued at $5.8 million for vehicle enforcement technology highlight growth opportunities, while new advisory appointments aim to enhance its tech roadmap. Although debt levels have risen over five years, they remain satisfactory relative to equity. Analysts expect a significant price increase despite current undervaluation compared to estimated fair value.
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Click to explore a detailed breakdown of our findings in Quarterhill's financial health report.
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Assess Quarterhill's future earnings estimates with our detailed growth reports.
Roots
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Roots Corporation, along with its subsidiaries, designs, markets, and sells apparel, leather goods, footwear, and accessories under the Roots brand in Canada and internationally with a market cap of CA$80.90 million.